MORGANTOWN — Mylan saw its third-quarter 2019 rise 3% compared to the same period last year, with growth in all three segments: North America, Europe and Rest of World. Mylan released its third-quarter results on Tuesday.
Total revenue for the quarter was $2.96 billion, up 3% from $2.86 billion in Q3 2018, Mylan said.
North American sales were $1.09 billion, up 8% compared to Q3 – July 1-Sept. 30 – of 2019. The increase, Mylan said, was primarily driven by new product sales: the Wixela Inhub, an Advair Diskus equivalent; and Yupelri, for treating COPD. The gains were partially offset by lower sales of existing products due to lower pricing and lower volumes.
European sales were $1.05 billion, up just under 1% compared to $1.04 billion last year. Rest of World sales were $793.7 million, up 3% from $773.7 million in Q3 2018. The increase, Mylan said, increase was primarily driven by new product sales in Australia and emerging markets and higher volumes of existing products, primarily driven by products sold in emerging markets.
Mylan CEO Heather Bresch commented, “Mylan achieved healthy revenue growth across all segments of our business during the third quarter, supporting solid year-to-date revenue growth as compared with last year. … We will continue to execute and remain laser-focused as we now set our sights on year-end commitments”
Mylan will be working toward a successful mid-2020 close of its planned merger with Pfizer subsidiary Upjohn, she said, and preparing its imminent launch of Ogivri, a biosimilar to Genentech’s Herceptin, used to treat early stage breast cancer.
Mylan President Rajiv Malik said, “We expect to finish the year from a position of strength as we have reached all of the product milestones necessary to meet our performance commitments.”
For shareholders, earnings per share were up 9% compared to Q3 2018: 37 cents compared to 34 cents.
Mylan’s total 2019 revenue, for the first nine months, was down 1% compared to the same period in 2018: $8.31 billion compared to $8.36 billion. The decrease in net sales for the nine months was primarily the result of a decrease in net sales in the Europe segment of 5%, partially offset by an increase in net sales in the Rest of World segment of 4% and an increase in net sales in the North America segment of 1%, Mylan said.
Based on its third-quarter figures, Mylan adjusted its full-year revenue projections. Originally expected to fall in the $11.5 billion to $12.5 billion range, Mylan adjusted the top end down to $12 billion.
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